Xinye Iron & Steel. Announces Bidding Result for Ferrovanadium

Date: Apr 09, 2019

BEIJING (Asian Metal) 9 Apr 19 – Hubei Xinye Iron & Steel. Co., Ltd. started inviting bids on April 4 to purchase 80t of ferrovanadium 50%min, and its final purchasing price came out to be RMB192,000/t (USD28,578/t) delivered D/A 180 days.

“Our company has a long-term partnership with Pangang Group. Last week Pangang Group quoted the material at RMB200,000/t (USD29,769/t) delivered D/A 180 days to us; but as market prices kept dropping, we were able to finish our purchase at RMB192,000/t (USD28,578/t) at last. But this price was higher compared with current market prices,” a source from the company said.

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